| Welles Wilder Volatility
Welles Wilder Volatility is a trend-following system. It is also
a true reversal system which means that the position is reversed
at every stop.
This indicator is intended to measure true range over time.
The idea is if volatility is high, the range is expanding and
the opposite holds.
If the dots are above the chart, they will be colored red, and this suggests that the security is in a bearish trend.
Similarly if the dots are below the chart, they will be colored green, and this suggests a bullish trend.
VI today = N*VI previous+TR1/X
Where VI = Volatility Index X = Time period N= Time Period-One Unit TR1 = Today's True Range
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